Analysis: Bitcoin 'Filling the Gap' Probability is Rising, Pullback Bottom or Forming in 'Double Anchor Structure' Middle
BlockBeats News, August 1st, on-chain data analyst Murphy stated in a post that the $117,000 Bitcoin support level has been breached, and the probability of a "gap fill" is increasing. According to Bitcoin on-chain data, the $117,000 price level is a significantly higher volume bar compared to other price ranges in the URPD chip structure, with a total of 720,000 BTC stacked at this single price, indicating an intense battle between bulls and bears at the $117,000 price level, resulting in significant turnover. The current price of BTC has already fallen below this key support level.
Whenever a single price bar accumulates more chips, the game will reach a critical point, and the market will face a moment of short-term directional choice. The chip range from $116,000 to $119,000 has high density but lacks width, making it vulnerable to a short-term breakthrough. Currently, the market seems to be choosing a downward direction, entering the middle area of the chip ranges from $116,000 to $119,000 and $102,000 to $109,000, forming a "dual-anchor structure." Based on past experience, as long as two chip ranges hold firmly, the bottom of the retracement is likely to form in the middle of the "dual-anchor structure," with the intermediate position around $112,000 to $113,000, which is also a fractured range in the chip structure (turnover gap).
Therefore, if the BTC price does not quickly return to and hold above $117,000 in the short term, the probability of a "gap fill" will increase. Conversely, if the price can swiftly return without breaking below the $117,000 support level, a rapid upward breakthrough after oscillation is a high-probability event. This information is shared for learning and communication purposes only and should not be considered as investment advice.
You may also like

Polymarket vs. Kalshi: The Full Meme War Timeline

Consensus Check: What Consensus Was Born at the 2026 First Conference?

Resigned in Less Than a Year of Taking Office, Why Did Yet Another Key Figure at the Ethereum Foundation Depart?

Russian-Ukrainian War Prediction Market Analysis Report

Ethereum Foundation Executive Director Resigns, Coinbase Rating Downgrade: What's the Overseas Crypto Community Talking About Today?

Who's at the CFTC Table? A Rebalancing of American Fintech Discourse
AI Trading vs Human Crypto Traders: $10,000 Live Trading Battle Results in Munich, Germany (WEEX Hackathon 2026)
Discover how AI trading outperformed human traders in WEEX's live Munich showdown. Learn 3 key strategies from the battle and why AI is changing crypto trading.
Elon Musk's X Money vs. Crypto's Synthetic Dollars: Who Wins the Future of Money?
How do Synthetic Dollars work? This guide explains their strategies, benefits over traditional stablecoins like USDT, and risks every crypto trader must know.

The Israeli military is hunting a mole on Polymarket

Q4 $667M Net Loss: Coinbase Earnings Report Foreshadows Challenging 2026 for Crypto Industry?

BlackRock Buying UNI, What's the Catch?

Lost in Hong Kong

Gold Plunges Over 4%, Silver Crashes 11%, Stock Market Plummet Triggers Precious Metals Algorithmic Selling Pressure?

Coinbase and Solana make successive moves, Agent economy to become the next big narrative

Aave DAO Wins, But the Game Is Not Over

Coinbase Earnings Call, Latest Developments in Aave Tokenomics Debate, What's Trending in the Global Crypto Community Today?

ICE, the parent company of the NYSE, Goes All In: Index Futures Contracts and Sentiment Prediction Market Tool
